Money on the markets
A maturing market amid the mayhem
Shares in engineering conglomerate L&T ended down 1.65 percent on Monday after the company posted a 10.5-percent rise in standalone profit for the quarter ended in December, but a fall in its operating margin hit investor sentiment.
The company said its operating margin in the third quarter was at 10.8 percent compared with 12.4 percent a year ago.
The BSE Capital Goods Index ended down 1.17 percent.
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The BSE banking index closed 2.2 percent higher on Friday despite analysts’ warning that mid-cap lenders could see muted net profit growth in the July-September quarter.
Some of the major gainers on the Bankex were Karnataka Bank (up 8.3 percent), Oriental Bank (up 6.8 percent), Union Bank (up 6.5 percent), SBI (up 5.3 percent), ICICI Bank (up 2.4 percent) and Andhra Bank (up 3.7 percent).
The benchmark had risen over 1 pct during trade, but was unable to sustain it and closed just 42 points higher.
The BSE Sensex broke a two-day climb and fell marginally to 0.2 percent on Thursday as investors squared their position on the last day of expiry.
The BSE auto index gained 1.3 percent as autos bucked the trend. The rise was led by buying in Maruti Suzuki, Mahindra & Mahindra and Bharat Forge as the government cut state-set fuel prices, a move that could help in slowing down inflation.
FIIs remained net buyers of $6.2 million in equity and $0.5 million in debt, as against net sellers of $59.4 million yesterday and $85.3 million on January 27.
It was another bright day for Indian investors as gains across world markets allayed concerns over risk aversion and triggered short covering ahead of the expiry of monthly derivatives contracts on Thursday.